M&S profits halved as full cost of cyber attack is revealed

THE hit from Marks and Spencer's cyber attack earlier this year is set to total £136 million by 2026, the company said yesterday.

- AMBER MURRAY

This is in addition to insurance income of £100m related to the attack, which hit the FTSE 100 firm in April.

The fashion and food company was forced to suspend online orders for almost two months this summer, with click and collect suspended for almost four months.

Chief executive Stuart Machin said the last six months have been an “extraordinary moment in time” for M&S. “Today, we are regaining momentum,” he added. “Our plan to reshape M&S for long-term sustainable growth is unchanged, our ambitions are undimmed, and our determination to knuckle down and deliver is stronger than ever.